Academy News

In the March/April issue of Contingencies, the cover story, “Fighting Fake News,” explores cognitive biases—what they are, how to recognize them, and how to avoid falling prey to their clarion call. This feature aims to provide some clear-headed tools that today’s reader can deploy to distinguish fact from fiction—and lays out how actuaries are in a unique position to help. Other features include “A Clear Target”—how the world might look in a new era of “targeted improvements” under generally accepted accounting principles (GAAP), and “Hitting the Wall,” which posits that the near future for the investing world is one of lower returns. Plus, a President’s Message from new Academy President Shawna Ackerman on doing well by doing good, and what the Code of Professional Conduct has to say about conflict of interest. (March 01, 2019)

In the February Actuarial Update, the Academy announced that members may begin nominating their colleagues to become Academy regular directors. Nominations are due May 1. Also in this issue, past President Tom Wildsmith was elected to the Academy Board to deepen our international focus; President Shawna Ackerman offered a message on the Academy’s public policy efforts in conjunction with the State of the Union address; a professionalism webinar set for March 21 will address professional judgment; and the “Professionalism Counts” column looks at the fourth exposure draft of a proposed Modeling actuarial standard of practice. (February 28, 2019)

The Medicaid and Long-Term Care Insurance Work Group of the American Academy of Actuaries has released a new issue brief, Medicaid and Long-Term Care Insurance. This issue brief explores the potential financial risks faced by older Americans who may incur catastrophic long-term care (LTC) costs. In addition, it provides an actuarial perspective on the issues related to funding both informal and formal LTC services and supports, with a particular focus on the complementary roles of Medicaid and private long-term care insurance (LTCI) within existing LTC financing systems.
(February 28, 2019)

It’s time to share your recommendations for Academy regular directors, who are elected to the Academy Board of Directors by Academy membership in an online election from a slate of candidates presented by the Academy’s Nominating Committee. The committee will meet in the coming weeks to identify new candidates for regular directors in accordance with the criteria provided in the Nominating Committee Guidelines. Read more. (February 28, 2019)

The Academy’s Board of Directors has elected past president and international secretary Tom Wildsmith to serve on the Academy’s Board to enhance ongoing discussions on international issues affecting the U.S. actuarial profession. “Tom brings thorough, contemporaneous knowledge of international developments affecting the U.S. profession to the table,” said Academy President Shawna Ackerman. Read more in the Academy’s news release.
(February 13, 2019)

The February HealthCheck covers the Long-Term Care (LTC) Practice Note Work Group’s exposure draft of an LTC insurance practice note, comments on which are due April 30. Also in this issue, state and federal legislative regulatory activity, including a White House Council of Economic Advisers report on the Affordable Care Act; regulatory actions by the Centers for Medicare & Medicaid Services; and health-related legislation in several states. (February 13, 2019)

Academy President Shawna Ackerman sent a special message to members on the day of the State of the Union addressing the many ways in which the Academy is providing public policymakers and regulators with an actuarial perspective to support good policy outcomes on financial security issues. (February 05, 2019)

In the January Actuarial Update, read about the Academy representatives who attended and presented at Canada’s Actuarial Students’ National Association meeting in Montreal this month. Also in this issue: the Academy released its 2018 year-in-review policy alert; Rich Gibson is the Academy’s new Senior P/C Fellow; and the “Professionalism Counts” column, by Vice President for Professionalism Art Panighetti, notes that now is the time for Academy volunteers to commit to objectivity. (January 31, 2019)